Hi Marcelomtn, interesting and casual threat, thanks for that.
The decisions to take a trade and the distance, I take them based on my "line in the sand" (daily opening, also interesting weekly and monthly), statistical prices and PA (also taking into account the appetite of MMs for SL). Nothing complicated (but yes effective), something simple works better.
The weight of the trades ... I have my personal style, based on the teachings of the great Phil13: MY Journal-phil13 | Forex Factory
At the moment I am trying to avoid overtrading, in a first phase I only traded 1 pair and little risk, now I am with 2 simultaneously (EU and UJ) and I have slightly raised my "level" of risk.
Hi Marcelomtn, interesting and casual threat, thanks for that. The decisions to take a trade and the distance, I take them based on my "line in the sand" (daily opening, also interesting weekly and monthly), statistical prices and PA (also taking into account the appetite of MMs for SL). Nothing complicated (but yes effective), something simple works better. The weight of the trades ... I have my personal style, based on the teachings of the great Phil13: MY Journal-phil13 | Forex...
Ignored
Interestingly, I also started with a single pair only. Over time my appetite for risk increased and I decided to create this account to assess the limit of the strategy. Hedging takes a lot of patience and margin control. I am currently testing the use of channels but I also opened a new account where I am hedging differently, started it today. Regarding the entries, I am using moving averages to "avoid" consolidation.
Here is a hedge i am in right now that is requiring lots of paciente
"consolidations" ... are the Achilles heel ... here...
in my opinion it is not possible to predict consolidations, and less with indicators ... at least, for the moment, i am not capable ...
therefore we do not have a "control" over it ...
all this we do, after all, is to MANAGE RISK ...
perhaps what we could find out/know (collecting data and studying them) is the "amplitude" of the consolidations, in their most usual values and in their most extreme values ...
in this way, we could control the risk in consolidations ... only my opinion...
maybe i'll get into this study between the end of this month and the summer ... dont know, will see ...
atm, testing the clear rules that i have established for when to enter, when to exit, and how much weight each time..
very important: these rules make me flexible in the execution...
and taking data/info from the experience (real account)
at the same time, I am also "playing" with: partial closures (to reduce risk) and with "operations within operations". For this, first I must "retouch" the indicator that I have created for these uses ... (simple calculations of means, BE levels, DD... etc, no mystery... risk control)
these two topics interest me a lot and are my next priority...
recently closed this trade, EU (M15 my work TF):
distance between averages 27 pips
distance from BE to TP 23 pips (at -0.75% from the monthy line in the sand, and above the line in the sand weekly)
level 2 (2 trades )
not bad, simple and stress-free, all planned in advance, and prepared for a reverse
Thats great Marcelo. "consolidations" ... are the Achilles heel ... here... in my opinion it is not possible to predict consolidations, and less with indicators ... at least, for the moment, i am not capable ... therefore we do not have a "control" over it ... all this we do, after all, is to MANAGE RISK ... perhaps what we could find out/know (collecting data and studying them) is the "amplitude" of the consolidations, in their most usual values and in their most extreme values ... in this way, we could control the risk in consolidations ... only...
Ignored
Fantastic trade !!
It will take awhile for me to post now.
I have UJ and AU holding my margin so i will wait for those and the others to close b4 i enter any other trade.
At this time i am testing the extreme of this strategy
my fault in the first entry,
i should have expected a close above the highs,
the third this week EU:
Avg dist 23 pips
BE-TP dist 18 pips (-0.5% Daily Line in the Sand, -1.25% MLS)
level 2
